... Algarve near Monchique, on partly buried twigs of very likely Acacia spec.
The small clubs looked a bit like a form of X. hypoxylon - white at the top (no conidia any more) and already darker at the base. As a bit of surprise, the specimen was already well ripe. 
The spore size (about 15-18/5-6) and other things could fit for a young specimen of Xylaria cinerea. Am I right or are there other proposals?
Yours, Lothar
P.S. In the vicinity also grew a quite bright violaceous, flat Hypoxylon, also (in this case definitely) on Acacia with characters I only could determine as H. fuscum.